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To: Pruguy who wrote (25528)	4/28/2000 1:58:00 AM
From: Tie Zeng	Respond to of 27307

I was a little oversimplify. It is hard to debate these topics in a few sentences. Some comapaniese could justify those ads if the rates come down. But many .com companies could never justify their ads because they simply don't have business or products. I singled out the on-line brokerages because there are quite a few factors favor this group: 1. most people are moving to trade online. I don't think it will be long before 99% people trade online. 2. the market is good. Even the market comes down, there are still a lot of trading happening. This long bull market has created huge wealth to many people. And many of these are addicted to stocks and they will stick to stocks for a long long time. 3. The online brokerage is a very profitable business. 4. It is not that easy to switch brokerages. It normally takes a few weeks and many people don't want to lose those few weeks without trading. This situation is different from other online stores. You can buy a book from AMZN this morning, another book from FatBrain at noon and B&N in the afternoon. That said, those online brokers still need to run a good operation. I think Etrade will backfire with their ads as their operations are lousy. People will leave for other brokers even if they sign with them.